LyondellBasell close to binding offer for Brazil's Braskem -sources [Reuters]
LyondellBasell Industries NV Ordinary Shares Class A (Netherlands) (LYB)
Last lyondellbasell industries nv ordinary shares class a (netherlands) earnings: 5/1 06:30 am
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Source: Reuters
LyondellBasell close to binding offer for Brazil's Braskem: sources | Reuters 2 Min Read (Reuters) - LyondellBasell Industries NV ( LYB.N ) is close to presenting a binding offer to acquire control of Brazilian petrochemical company Braskem SA ( BRKM5.SA ), two people with knowledge of the matter said. LyondellBasell is discussing the extension of a long-term naphtha supply contract with Petroleo Brasileiro SA ( PETR4.SA ) seen as pivotal to valuing Braskem, and talks between the companies are expected to finish over the next days, the sources said, asking for anonymity because talks are private. A binding offer could be delivered as soon as the end of this month, the people said. Once a long-term supply contract is established, LyondellBasell is expected to bid for control of Braskem, first through an offer to controlling shareholder Odebrecht SA. Odebrecht, a Brazilian conglomerate involved in the country’s widest-ever corruption probe, has been forced to sell assets over the
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